Pinterest introduces native video ads
Pinterest has introduced a new tool that lets businesses upload video ads to its visual discovery platform. The feature, called Promoted Video, expands on the popularity of video on Facebook and other social media networks by giving companies the ability to pin specific products directly below the ad. A visit button also drives traffic back to companies’ websites.
In the last year alone, Pinterest has seen a 60 per cent increase in video content on the platform, featuring everything from home projects to beauty and hair tutorials. Promoted Video makes it easier for people to identify and buy the products featured in those videos. The ads are a natural fit for the platform as 55 per cent of people on Pinterest go there to shop or find products, according to venture capitalist Mary Meeker.
More and more advertising dollars have been going to mobile video ads in recent years. The Interactive Advertising Bureau found that Australian advertisers plan to spend $10 million on digital and mobile video ads this year, an 85 per cent increase over the $5.5 million spent in 2014, when Facebook launched autoplay video advertising.
Video is “something we’ve under-invested in in the past, and we’re changing that,” Jon Kaplan, Pinterest’s head of sales, told Bloomberg. “This is all part of a broader push from the company to make video a bigger part of the consumer and advertiser experience.”
Kate Spade and BareMinerals are some of the first brands to use video ads on Pinterest, which is currently available to businesses in the US and UK that work with a Pinterest account team. The announcement comes shortly after Instagram launched its own contact button for business profiles in Europe ahead of a planned international roll-out.